(MT Newswires) -- Johannesburg Stock Exchange (JSE) CEO Leila Fourie has announced positive financial results for the exchange, with 11% growth in annual net income. This performance was underpinned by a resilient operating income profile, which recorded an increase of 6.9%, despite a decline in trading volumes. 

The JSE also experienced strong cash generation with an increase of 13.6%. Fourie attributes these successes to the modernisation strategy and the formation of strategic partnerships, most notably with Amazon Web Services (AWS), which is supporting JSE in the modernisation of its back-office systems, including the migration of code from COBOL to Java and transfer to the cloud.

These technological advances are aimed at making JSE more attractive to companies considering an IPO. Fourie is seeing renewed interest in listings, particularly in the commodities and real estate sectors, with international companies listed in London and on NASDAQ showing interest in the JSE.

The JSE CEO is cautious but optimistic about the future, with up to ten IPOs in the pipeline for the year, while stressing the importance of macroeconomic and political stability in encouraging investors. It does not expect any major disruption from the May elections in South Africa, given the country's historical political resilience.

Regarding the position of African central banks, Fourie points out that inflation in South Africa is less severe than in developed economies, so the Fed's decisions are key factors that will influence the price of the South African Rand. She concludes by emphasising that the JSE, as the continent's largest stock exchange, plays a crucial role in the African economy and remains an important anchor for investors despite the global economic challenges.

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